Ohio's economy rebalances with manufacturing and infrastructure investments
Driving economic growth
Major capital investments are fueling growth in specific Ohio regions. Intel's semiconductor plant in New Albany and Amgen's biopharmaceutical campus near Columbus are creating thousands of jobs and substantial new payroll. Additionally, Centrus is expanding its uranium enrichment facility in Piketon, adding jobs in southern Ohio's energy sector.
Housing market trends
Ohio's housing market is experiencing steady price appreciation, with forecasts of 2-4% growth in 2026 across key markets like Cincinnati and Dayton. Central Ohio, particularly the Columbus area, saw median home prices in the $315,000 to $320,000 range in early 2026, with moderate year-over-year increases. Inventory remains tight in major metros, contributing to buyer competition.
Migration patterns
Ohio experienced a significant drop in U-Haul's 2025 Growth Index, falling to 43rd from 14th in 2024, indicating a net loss of one-way customers. While the state attracted a net gain of over 1,000 people in 2023, primarily international migrants, domestic migration has been challenging. Columbus and its surrounding suburbs, such as Marysville and Delaware, continue to attract new residents.
Headwinds and risks
Ohio saw a decline in overall employment in 2025, with a loss of 5,600 jobs between December 2024 and December 2025, primarily in service sectors and federal government. The state's labor force participation rate also decreased. Outdated zoning codes and a shortage of attainably-priced homes continue to pressure the housing market.
Key facts
- Ohio Department of Transportation is undertaking a record-breaking $3.4 billion construction season in 2026, including 977 new projects statewide. (Ohio Department of Transportation, March 2026)
- Ohio enacted comprehensive property tax reform in December 2025, expected to deliver over $3 billion in relief to homeowners, with changes taking effect with 2026 tax bills. (Ohio REALTORS®, December 2025)
- JobsOhio launched a Relocation Incentive in 2025 to attract STEM and experienced talent to the state, utilized by over 200 employers across all seven regions. (JobsOhio, January 2026)
- The 30-year fixed-rate mortgage is projected to average around 6% in 2026, down from approximately 7% at the start of 2025. (National Association of REALTORS®, January 2026)
- Nationwide Children's Hospital in Columbus was ranked the best large employer in Ohio for 2026 by Forbes. (Forbes, February 2026)